MFF – 090323 – 18:57 Hrs

+ We are resuming our updates after the short break on account of many other jobs which kept us pre-occupied. Anyway not much happened in the market, which only moved down almost till 8300 and then bounced back. The volatility continues, and today’s move of more than five percent is really heartening and also sending a message that 8500 +/- few hundred points is the bottom which MFF has been many times speaking about. If one notes carefully there are many factors pointing towards a recovery in the market. Commodities, crude are on a steady increase, coupled with many metals which show that the demand may be on the verge of revival.

+ NANO has been finally launched today which at one point of time looked a distance dream amidst the violence in Singur. God bless the Tatas for keeping the promise of base model at Rs.1 Lac, and yes not to forget Mr. Narendra Modi who came in right time and gave a new lease of life to the project, his business acumen is no doubt commendable. Let’s hope he is given a powerful post at Delhi if BJP comes to power. The ego battle between the Left and the politically opportunistic Mamta would have pulled the project to dirt, and the then friends of Left, the Congress would have just been mute spectators.

+ There are many things which I would like to point out but would do it in a phased manner so as to keep the momentum going ahead of the Lok Sabha elections. The market in between fell sharply as the third front was taking shape, and recovered back when it seemed clear that the front would remain shapeless! The third front is nothing but a Group of Notorious people, each and every one of them ASPIRING to be the Prime Minister! A group or party can never come to power unless they back a particular individual for the PM’s post and even by luck (like Gowda & Gujral) if at all they form the Govt. it cannot last long!

+ BJP and Congress both have nominated their PM candidate and market wants not anyone else other than these two to lead the country. It is duty of each of us, to go and vote and choose the right National party to form the Govt. It’s now evident that market would still remain in a range until elections are over, and MFF has many a times recommended index funds, and has proved quite profitable strategy for our clients.